Monetary Policy Committee: Public Appointments

Mr. Redwood
To ask the Chancellor of the Exchequer (1) in what circumstances Monetary Policy Committee members are (a) invited to serve a second term and (b) allowed to apply to serve a second term;

(2) what criteria he uses when deciding whether to re-appoint Monetary Policy Committee members.

John Healey
The Chancellor appoints members of the Monetary Policy Committee in accordance with the criteria laid out in the Bank of England Act 1998.

Mr. Redwood
To ask the Chancellor of the Exchequer how many members of the Monetary Policy Committee have been appointed for a second term since 1997; and how many have served only one complete term.

John Healey
A full list of individuals that have served on the Monetary Policy Committee since 1997, alongside meeting attendance and voting records, is available from:

http://www.bankofengland.co.uk/monetarypolicy/mpcvoting.xls

Since 1997, two external members of the Monetary Policy Committee have served two full three-year terms. The remainder have served for one full three-year term.